State-run National Food Authority (NFA) has earmarked an preliminary P2.Three billion to finance rice procurement as the primary harvest season opens.
The government is securing extra finances to cover the extra procurements have to the need rise up, NFA OIC Director Tomas Escarez said in a assertion.
The purpose is to buy 2.6 million bags of palay from local farmers national from September to December 2016, the usage of the Cereal Procurement Fund (CPF).
The NFA’s buying charge is P17 according to kilogram (kg) to P17.70/kg, with man or woman farmers and farmer cooperatives nationwide qualifying for a P0.20/kg transport incentive, P0.20/kg drying incentive, P0.30/kg Cooperative Incentive Fee.
